German states still prefer Magna’s offer for Opel
By Andrew C., 27 Aug, 2010. 0 Comments
Magna Logo
Rallying behind Magna are the German states (Rhineland-Palatinate, Hesse, North Rhine-Westphalia and Thuringia) where Opel factories are based, Reuters reports. These states expressed their support for Magna in a telephone conference today. Rumors have circulated that RHJ International was the new favorite to purchase Opel/Vauxhall. However, Germany's economics minister disallowed GM to include a buy-back clause, effectively throwing out the key to RHJ's proposal. The German government participates in the decision on who will buy Opel/Vauxhall because it will take on the bulk of the loan guarantees required in the deal. [via autocar]
Latest Auto Shows
